Business
AGM Trading Update
AGM Trading Update.
About this update from Halma Plc
[{"type":"text","content":"\n \nRNS Number : 7939E Halma PLC 21 July 2016 \n\nHalma plc\n \nAGM Trading Update 21 July 2016\n \nHalma, the leading safety, health and environmental technology group is holding its 122nd AGM later today. The following comments on trading relate to the first quarter of Halma's financial year which ended on 2 July 2016.\n \nHalma has continued to make good progress in line with the Board's expectations. Revenue was ahead of the first quarter of the prior year and included good organic constant currency growth on a weekly average basis (see Note 2). Order intake was ahead of revenue and also above order intake in the first quarter of the prior year.\n \nThere was strong revenue growth in the Infrastructure Safety and Medical sectors with steady progress in the Environmental & Analysis sector. As expected there was lower revenue in Process Safety; based on improving order intake trends and continued diversification, the sector is better positioned to improve its performance as the year progresses.\n \nThere was revenue growth in all of our major geographic regions, with the highest rates of growth in the USA and Mainland Europe. \n \nAt the end of June, Sterling weakened relative to many currencies, including the US Dollar and Euro. If current exchange rates continue throughout the rest of the current financial year, the currency translation impact on the Group's results is expected to be positive. Based on the current mix of currency denominated revenue and profit, a 1% movement in the US Dollar changes full year revenue by £4.3m and profit by £0.9m. Similarly, a 1% movement in the Euro changes full year revenue by £1.1m and profit by £0.2m. The weighted average exchange rates relative to Sterling used to translate revenue and profit for the year ended 2 April 2016 were: US Dollar 1.51, Euro 1.37.\n \nThe Board remains confident that the resilient and global long-term growth drivers in our chosen markets will continue to underpin Halma's growth. Our focus on safety, health and environmental technologies together with our agile organisational model, which encourages local decision making within each subsidiary company, ensures that our business is a...